Future research

Generalisability of the new model for other SMEs

A limitation of the current research that holds potential for future research is the low generalisability to other SMES. Specifically, the inclusion of opportunity evaluation criteria from the literature review into the model was based on qualitative research. Future research could investigate whether criteria found important by Moekotte are the same for other SMEs. Another possible future research direction in this direction could be to investigate what criteria are of interest to firms within different industries, sizes, age, geographical areas, nationalities, etc. This could result in certain ‘profiles’ for opportunity evaluation for different types of companies. Additionally, it may also be possible to research differences in business opportunity evaluation between investors and companies.

Use of the model compared to firm performance

It is interesting to investigate whether the use of the new Business Opportunity Evaluation Method has any influence on firm performance, similar to Kakati (2003) who analysed what aspects of a company determine firm success. This may be done using a similar method as Kakati: comparing the use of the Business Opportunity Evaluation Method to survival rate of firms, a few years after new markets are entered. An ideal population for such an experiment could be obtained through portfolios of investors. These organisation maintain contacts with many SMEs, often in a positive relation (likely increasing their willingness to cooperate with such research) and are experienced in evaluating the extent to which companies are successful (long-term survival).

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Appendices